Amaya buying PokerStars, Full Tilt owner for $4.9B

Associated Press

NEW YORK - The owner and operator of the PokerStars and Full Tilt Poker brands is selling itself to Amaya Gaming Group Inc. in a $4.9 billion deal that is part of its plan to hopefully return to the U.S. market after a dustup with federal authorities three years ago.

PokerStars and Full Tilt ran into some trouble in April 2011 when the U.S government seized their websites and charged executives at the companies and people that move money for them with fraud and money laundering. In July 2012, PokerStars reached a settlement with the Justice Department in which it agreed to pay the government $547 million over three years. At the time the company said the money was to be used in part to reimburse former U.S. customers of Full Tilt Poker, whose assets PokerStars had acquired.

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